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whats wrong with an account at the latte shop?
But at 23, I think that's ok.
My gross worth (by comparison to present company) is very, very little - just on half of the lowest amount mentioned above. But at 23, I think that's ok. Given the platform I started from, I'm doing more than ok.
Nett wealth? About 25% of gross. Planning on changing that over time though.
Cheers
Greg
Gross Worth??, does it make a difference. The numbers are meaningless. If like JIT, you have a "200%" increase in gross wealth, by getting two 90% and 95% LVR properties. Maybe then all of $20K closer to retirement.
You should be asking net wealth. Gross wealth is very easy to aquire (just get a lot more debt). Net wealth is what is important.
Hey, the Storm people who had $1.5million margin loans were probably very happy with their "gross" wealth, hehe.
Don't know, sometimes the Somersoft patting each other on the back is a little to much.
So lests see, at 25% LVR currently, I can increase by "Gross" wealth by about 300% instantly why going to 80% LVR instantly with more properties. Woohoo, financial genious I am.
So Sash, hyperthetically, 300%. Guess I've gone better than others than. )
Gross wealth is very easy to aquire (just get a lot more debt). Net wealth is what is important.
isn't that called under capitalising.....?
under $1mil here.
888, You are trying to argue a point that was never actually made. If you read the thread, not one person has said that gross wealth is a better financial indicator that nett wealth. It is just interesting to know how many assets people are controlling. I also find it interesting.
And that's fine that you don't want to increase your LVR, nobody is forcing you to defend that right....try to relax. The fact that you think the market in general is not increasing is also fine. The fact that you are not confident in your ability to locate very well performing sub-markets is also perfectly fine.
If somebody is able to purchase the well performing properties, increasing their gross worth makes perfect financial sense.
Well said. If I tried to only obtain assets on a net basis, I really wouldn't get far. Gross worth is what enables my nett worth to increase.
If I tried to only obtain assets on a net basis, I really wouldn't get far. Gross worth is what enables my nett worth to increase.
I agree with somerville on that point